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China Scraps Minimum Requirement Rule
By Yanping Li |
January 10, 2009, Saturday
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Print Edition
Print Edition
China's central bank said it is scrapping a 500-million-yuan (US$73 million) minimum requirement for bond sales in the nation's interbank market.
The rules are being relaxed to "promote the growth of the bond market and protect investors' interests," the People's Bank of China said in a statement posted on its Website yesterday, without providing further details.
"It's a move to help small and medium-sized companies raise more funds in the interbank market to ease their liquidity shortages," said Tang Guohui, a fixed-income analyst at Industrial Securities Co in Shanghai.
The central bank said this week it will consider allowing smaller companies to issue junk, or high-yield, debt to help them overcome fundraising difficulties.
The rules are being relaxed to "promote the growth of the bond market and protect investors' interests," the People's Bank of China said in a statement posted on its Website yesterday, without providing further details.
"It's a move to help small and medium-sized companies raise more funds in the interbank market to ease their liquidity shortages," said Tang Guohui, a fixed-income analyst at Industrial Securities Co in Shanghai.
The central bank said this week it will consider allowing smaller companies to issue junk, or high-yield, debt to help them overcome fundraising difficulties.
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